Leicester-based Spirit Healthcare, part of the Spirit Health Group, has secured a six-figure finance package from HSBC UK to support the expansion of its business.
Spirit recently secured the management of Brownsover Medical Centre in Rugby and a diabetes education booking service across South London. The HSBC UK finance will support the delivery of these new contracts, providing the funding to enable the creation of 16 new jobs.
The deal also allows Spirit to increase its range of services, including ‘EMPOWER’, a programme delivered in the community for the education of diabetes patients, and ‘CLINITOUCH’, software which enables clinicians to monitor and manage patients with a variety of long-term conditions in their own home.
As a result of the funding, Spirit will be able to increase the number of patients it engages with from 50,000 to over 200,000 and aims to grow turnover from £10.2m to £18m by 2020.
Roger Pratt, East Midlands Corporate Banking Area Director, HSBC UK said: “Spirit is helping deliver healthcare through innovative technology and we’re thrilled to be able to support the business in improving patient care. This finance package will enable Spirit to manage its new GP practice contracts and provide health management education to even more patients across the UK.”
Chris Barker, Founder of Spirit Healthcare, said: “Our HSBC UK Relationship Director, Richard Parker, was able to provide us with a finance package to support our ambitious growth plans. We look forward to bringing new technologies and services to NHS patients, which will help us achieve our aim of making the world a healthier and happier place through our clinical services and healthcare management technologies.”
This deal is part of HSBC UK’s £500 million lending fund to support small and medium-sized enterprises (SMEs) in the East Midlands.